Bill Gross says PIMCO will manage part of the pool of TARP assets for nothing if the rest of the Street will do the same. Gross thinks the Treasury will earn 10-15% annually on the pool of assets. Gross has not exactly been an ally of this administration over the years and has an obvious business motive for cheerleading for a package so his motives may be a bit mixed, but the math is compelling. Hopefully Bush will use it.
Buffett is on the Tube (or Flat Panel) trumpeting the package as well, saying a meltdown will result if it is not passed. Politics makes for strange bedfellows as the old saying goes.
